California Corporations Code

§ 8811

CORP § 8811Div. 2 · Title 1 · Part 3 · Ch. 18

Statute text

Any promoter, director, or officer of a corporation who knowingly and willfully issues or consents to the issuance of memberships or membership certificates with intent to defraud present or future members or creditors is guilty of a misdemeanor punishable by a fine of not more than one thousand dollars ($1,000) or by imprisonment in county jail for not more than one year or by both such fine and imprisonment.

Legislative history

Added by Stats. 1978, Ch. 567.